He Gold rises 1.5% on Friday to $2,530 per ouncewhich has allowed the precious metal to conquer new historical highs in the face of renewed «hopes for rate cuts», driven by a series of better-than-expected data in the US, as SP Angel analysts comment. «Gold prices continue to rise as the price of gold continues to rise Investors seek to protect funds while waiting for new investment trends«, the firm comments. For its part, Dilin Wuresearch strategist at Pepperstone, notes that «as extreme fear of a US recession has subsided, Fundamentals are once again driving gold trading«. According to his opinion, the data known this week in the US, which include a fall in the CPI and production prices, «confirm the justification for a rate cut in September, without justifying a more aggressive 50 basis point reduction«Similarly, in my view, stronger-than-expected July retail sales and a drop in jobless claims suggest a Resilient economy more than a signal to delay rate cuts«, he adds. This analyst considers that, «although The bullish narrative for gold is clear (anticipation of Federal Reserve rate cuts)increased geopolitical risk from the US elections and heightened tensions in the Middle East), a key catalyst is missing.» «Now that inflation is no longer in the spotlight and the market turns its attention to the labor market, I see only two possible surprises before the Fed meeting in September: a sudden deterioration in US labor market conditions or a resumption of gold purchases by the People's Bank of China«he points out. However, he continues, «given the high current cost of gold and the relatively strong performance of the yen against the dollar «since August,» a scenario of purchases by the People's Bank of China «is less likely in the near term.» «In my view, the most important risk to gold's performance lies in the US non-farm payrolls data due on September 6. If job growth falls below 100,000 and the unemployment rate remains above 4.1%, Recession fears could loom like a storm cloud on the horizon«, he concludes.